tribeca

The Retail Condominium space at 459 Washington Street, also known as “The John Watts Condominium”, has recently come for sale. The property is listed exclusively by longtime downtown Manhattan broker, Reza Namazi, proprietor of Namazi Real Estate.

The layout of The John Watts Condominium is open but unique, with classic cast-iron details and brick wall feature. With a true TriBeCa sensibility down to the storefront stairs, molding and cobblestone street — the combination of modern and SoHo-inspired details of this space are memorable and masterful.

Currently subdivided into two storefront galleries, the 4,000 SF space could either be combined or arranged so that one is for private-use and the other space an income property for the new owner. The significant street frontage is notable as well: perfect for showcasing art, designer boutique displays or otherwise aesthetically enticing inventory. The owner will have access to a charming roof garden as well, providing a great opportunity for hosting upscale clientele or intimate events, and simply relaxing for a midday breath of inspiration.

The influx of hotels such as Arlo Hotel on Harrison Street andHugo Hotel on Greenwich Street are indication of the area’s need to accommodate tourists and business people alike. New Yorkers continue to flock to this area as well, given its proximity to the Hudson River Parkand Chelsea Highlinewalking paths. The area is a favourite for in-the-know Manhattanites and newcomers looking for some respite amongst the bustling business-first mindset of Downtown. The creature comforts of the nearby West Village combined with the access to unique shops and buzzy new restaurants fuel the notion that the Hudson Square area is truly the investor’s gem in the city.

Sophisticated residents of this neighborhood include East Coast outposts of Hollywood celebrities, Wall Street elite and internationally renown art collectors. In other words, any business that opens its doors amongst such well-seasoned tastemakers is sure to gain recognition for its endeavors.

The move will expand Google’s presence near the Hudson River in New York City. Earlier this year, the search giant announced it had purchased shopping and office complex Chelsea Market for $2.4 billion.

Google said the Hudson Square campus will be the main location for its New York-based global business organization. It said the investments in Chelsea and Hudson Square will create capacity to more than double headcount in New York over the next decade. Google currently houses more than 7,000 employees in New York City in a range of teams including Search, Ads, Maps, YouTube and Cloud.

“Our investment in New York is a huge part of our commitment to grow and invest in U.S. facilities, offices and jobs,” Alphabet CFO Ruth Porat said in the blog post.

Google signed lease agreements for the Hudson Street spaces and plans to move into the two buildings by 2020, the company said. It signed a letter of intent for the 550 Washington Street space, where it will move in 2022 once the building is complete.

In the wake of recently filed plans, a Tribeca corner is poised to look very different. The 5,600-square-foot brick and terra cotta building at 457 Washington Street was erected in 1886. Since then, it has served as a tenement, hotel, residential building, and home to a ground-floor diner. When local restaurateurs and investors Jacques and Samuel Capsouto put the building on the market in 2015, its current incarnation contained three full-floor units, one office, a two-car garage, and 1,120 square feet of air rights. 6sqft mentioned the possibility of turning it into a grand, single-family home, and permits have been filed to do just that.

According to Acris, an entity known as 142 Watts LLC bought the building in January 2018 for $9 million, nearly 17% below the original listing of $10.9 million. Plans identify the owner as Cathleen Ihasz, whose private investment company Lazar Ventures is active in real estate. An early listing advised buyers to “bring your architect,” and that’s what they’re doing: The applicant of record, William Green Architecture, is known for its design of the Lazar Hotel and conversion of a 19th-century Greenwich Village triplex. Conceptual renderings released by Citi Habitats offer a hint as to what the new house might look like, but neither is likely to be built.

Five blocks away, a mega-mansion at 11 Hubert Street hopes to prove that there is a market for single-family townhouses in Tribeca. It is acclaimed architect Maya Lin’s first residential project and “the biggest suburban-style mansion the city has ever seen,” according to the New York Post. Planned amenities and features include, but are by no means limited to, indoor Olympic pool, spa area, basketball/squash court, screening room, double-height four-car garage, double-height living room with fireplace, his and hers master suites, and private outdoor space. It was listed for $35 million in February 2017.

In its earliest days, the neighborhood around 457 Washington Street was largely residential with St. John’s Church and St. John’s Park nearby. According to Daytonian in Manhattan, “Cornelius Vanderbilt purchased the park and built a railroad on the site. And there went the neighborhood” in a more commercial direction. But New York real estate moves in cycles, and residences are making their way back to the streets once devoted to warehouses and production companies. Neighbors include a condominium at 449 Washington Street, a co-op at 451 Washington Street, and luxury rentals 456 Washington Street and Truffles Tribeca.

Back in December, YIMBY reported that an LLC filed applications for a new development at 440 Washington Street, in Tribeca. And now, we have the first renderings of the residential project, which is being developed by Ponte Equities and designed by OCV Architects.

Per the building applications, the structure will total 48,447 square feet, which will include 7,407 square feet of commercial space. The residential portion of the project will be divided among 41 units, giving an average size of about 1,000 square feet, which indicates it will probably hold condominiums.

While filings list the development’s height at nine stories, it will actually clock in at 11 floors in total. A community space will be included on the tenth floor, and penthouse areas will extend up to the 11th floor.

Down below, the building’s appearance will be very attractive, improving markedly upon the site’s current occupants. While the corner of Desbrosses and Washington houses an appealing little sliver of a pre-war structure, its replacement will be a near-match stylistically, taking design cues from the neighborhood’s industrial past.

Gridded windows will be interspersed within a predominantly red-brick facade, and it appears that metallic accents will also be included. Just like the little pre-war building currently on-site, the apex of each window bank will end in a series of arches (at least, within the areas surrounded by red brick).

Ponte has another project in the works immediately adjacent to this site, which YIMBY revealed this past July, at 70 Vestry Street. That building will be slightly larger than 440 Washington. Robert A.M. Stern is the design architect, while Ismael Leyva is the architect of record. Related is also co-developing that project.

As for 440 Washington Street, the last action at the DOB appears to have been in December, and new building applications are still pending. But demolition permits for existing structures have now been approved, and a completion estimate of 2018 or so would appear reasonable.

Investor behind Michael Stern, Kevin Maloney aiming for $53M sellout at 8-unit 465 Washington Street. Tech mogul Arthur Becker’s been the quiet money behind some of the city’s biggest developers, including Michael Stern, Kevin Maloney and Robert Gladstone. But this time, he’s putting his own name on a condominium project.

According to an offering plan filed last week with the New York State Attorney General’s office, the investor-turned-developer is planning an eight-unit building at 465 Washington Street in Tribeca, with a projected sellout of $52.5 million.

In an interview at his art studio next door, Becker told The Real Dealthat 465 Washington will be an “artisanal, boutique building” with interiors designed by Paris Forino.

“I bought it as a primer,” said Becker, who began his career as a homebuilder, then operated a macadamia orchard in Hawaii before gradually moving into tech and finance. “I like this section of Tribeca. It’s a size I can manage.”

When complete, 465 Washington will have seven simplex apartments and one penthouse duplex, ranging from 2,000 square feet to 4,000 square feet, he said. Prices will range from $2,200 per square foot to $3,200 per square foot. Units will ask between $5 million and $14 million for the penthouse.

In 2012, Becker bought 465 Washington for $6.1 million from architect-turned-developer Peter Moore, who faced a $4.7 million foreclosure suit after defaulting on a loan from VFC Partners.

To expand the five-story building to 10 stories, Becker also bought development rights from the owners of an adjacent building at 471 Washington for an unknown sum. Property records show Becker also paid just over $1 million for a 30-foot easement from the Ponte family, owners of 502-506 Canal Street, which backs up to Becker’s property.

According to research firm Real Capital Analytics, Becker has invested in $550 million worth of projects in New York City to date. It’s not clear, however, how much capital he’s deployed.

Becker’s highest-profile bet is on JDS Development Group and Property Markets Group’s Billionaires’ Row condo supertower at 111 West 57th Street, where he said he was the first financial backer. The developers have completed a sales gallery at the project, but have put sales on hold. Becker said the feeling is there’s not enough urgency among buyers to justify a full-on sales effort now. “We felt like it was too early,” he said.

Becker was a financial backer of PMG and Madison Equities’ condo development at 10 Sullivan Street, and assumed ownership of three adjacent townhouses at 30, 40 and 50 Sullivan in exchange for his stake in the project.

Becker was also among the investors who bought and sold an assemblage at 251-259 Third Avenue in Gramercy to Alfa Development for $70 million.

Despite the slowdown in luxury product, Becker is optimistic about 465 Washington, where he’s in the market for a $25 million construction loan. “I like the micro neighborhood,” he said, stressing that he’ll also be selling eight units not 50. With two years of construction planned, he has time.

“I had the capacity, I had the deal flow,” he said, explaining why he never sought the spotlight. “Nothing changed, but I have a project I’d like to get more exposure for.”

When developer Barone Management’s web page about the 96-room hotel under construction at 447 Washington Street showed up in my Google alert, I was most interested to see that “the hotel is expected to open in 2021.” (It also says that the official groundbreaking was in December of 2018, but that’s a typo; it was 2017.) And then I realized that there were a bunch of drawings of the interior. It’s entirely possible that these are extremely preliminary drawings, but they’re awfully detailed to have no basis in reality….

According to Barone, the hotel will include “three fine dining outlets with banquet space, private dining rooms, the largest screening room in lower Manhattan, a private members club, a rooftop swimming pool, an indoor swimming pool, and a full-service spa. Upon completion, this property will be one of the most luxurious hotels in New York City.”

The website for DPW Holdings, an investor in the project, mentions only a single restaurant-with-bar and says that “plans may also include a private member club.” (Italics mine.) DPW also states that there will be “a 1,500-square-foot interior courtyard.”

For those of you just tuning in, I’ve thrown in some more exterior renderings at the bottom.

The Greeks of Tribeca welcome you to a new lifestyle experience. GRECA is a Greek Bakery, Open Kitchen, Feta Bar and Longevity Lounge located in northwest Tribeca. We open daily at 8am and the night ends at 1am. We serve Devoción coffee and select Organic Teas along with fresh baked items, salads and home cooked meals.

The Longevity Lounge features hand crafted cocktails, biodynamic wines, local beers and rare premium spirits from around the globe.

Robert De Niro’s casual neighborhood taverna serves up chef Andrew Carmellini’s riffs on Italian cooking. Located in the Greenwich Hotel in TriBeCa, the restaurant is an airy, high-ceilinged space, open to the street, where patrons can linger over brunch, enjoy after-work drinks and snacks at the bar—or simply kick back in the evening with great Italian food and wine. Breakfast is served in the cafe, where diners can begin their day while enjoying pastry chef Deborah Racicot’s breakfast delights. The restaurant offers a spacious private dining room furnished with antique chairs and reclaimed wooden beams that seats up to 60. The entire restaurant is available to rent for special events.

Michael Chow’s hippest location, the second NYC outpost after the original on 57th Street, attracts celebrity patrons from the worlds of music, art and fashion. Decorated with black and white lacquer, the main dining room features original works by artists such as Julian Schnabel, Andy Warhol and Helmut Newton. The menu offers both authentic Beijing cuisine and Mr. Chow’s original recipes like Chicken Satay, Mr. Chow Noodles, Green Prawns and Ma Mignon. There’s also live entertainment nightly as the skilled pasta chefs demonstrate the artistry of the original Beijing style of hand-pulled noodle-making.

The acronym TriBeCa stands for “Triangle Below Canal,” a coveted swatch of real estate bordered by Canal Street (to the north) West Street (to the east), Broadway (to the west) and Vesey Street (to the south). Among the bold-faced names currently calling the area home are Jay-Z and Beyoncé, Gwyneth Paltrow and Taylor Swift. Robert De Niro has famously done much to encourage TriBeCa’s vitality. Plenty of unfamous folks live here too, thanks to excellent public schools, lovely parks and superb views of the Hudson River. Indeed, the neighborhood has a family-friendly atmosphere you might not expect from the cast-iron buildings and cobblestone streets, which speak to the area’s industrial past, or from its present reputation for exciting dining and nightlife. Former warehouses have become lofts, galleries and performance spaces, and in the evening, the streets thrum with people out for a drink at one of the many lounges, looking to hear a song or see a play or trying to get a table at one of the neighborhood’s many extraordinary restaurants. For ideas on what to see and do, read on.

Dining Out Downtown

Once upon a time, The Odeon was the downtown version of the Algonquin Round Table, where the quick-witted and well-heeled came to chat and chew. (Its facade was featured in the opening credits of Saturday Night Live for many years, and an image of it graced the cover of Jay McInerney’s generation-defining novel, Bright Lights, Big City.) Today The Odeon continues to produce classic brasserie fare, but it’s been joined by countless other restaurants, many of them foodie landmarks, like Tribeca Grill, which features a wide variety of delicious fare and an even wider selection of varietals (including the world’s largest selection of Châteauneuf du Pape). Among the neighborhood’s many other high-end options are Atera, for fancy modern foraging from chef Matthew Lightner; Bouley, for fancy modern French from chef David Bouley; and Jungsik, for fancy modern Korean from chef Jung Sik Yim. Tamarind Tribeca serves classic Indian in an elegant atmosphere, while Locanda Verde offers casual, contemporary Italian; The Harrison offers casual, contemporary American; and Blaue Gans offers casual, contemporary German-Austrian. (See a pattern?) Like The Odeon, Bubby’s is another neighborhood favorite. Starting as a pie company in 1990, the homey brand has expanded into a full-blown restaurant—each meal relying on recipes for comfort food from Grandma. If you can’t find something to eat in TriBeCa, you probably aren’t hungry.

Little Tokyo?

If the neighborhood has a patron saint, it’s Robert De Niro. In 1994, he and his partners opened Nobu, devoted to chef Nobu Matsuhisa’s modern Japanese. Success followed, leading to Nobu Next Door, a more casual offshoot, as well as legions of imitators of its signature black cod and miso. Other Japanese restaurants followed, and nowadays TriBeCa boasts some of the best Japanese fare in the City. Rosanjin presents a traditional take on the beautiful, seasonal tasting menu known as kaiseki, while Brushstroke, by David Bouley, presents an updated version. Ichimura at Brushstroke is a 12-seat sushi bar within the larger restaurant, giving diners the opportunity to try omakase, a series of small plates that showcase both the chef’s creativity and the food’s freshness. Like Ichimura, Michelin-starred Sushi Azabu is an under-the-radar sort of place, a sushi restaurant located in the basement of Greenwich Grill, which itself tweaks traditional Italian food using Japanese ingredients and flavors. Finally, there’s Takahachi Bakery, which makes such treats as black sesame macaroons and green tea crepes, along with coffee drinks, sandwiches and light meals to stay or go.

Step Up Your Stepping Out

Brandy Library boasts “the biggest collection of brown spirits in New York,” more than 900 rare bottles and a comprehensive cocktail menu that features all the classics. Spirit sommeliers and librarians (aka “bartenders”) are on hand to make recommendations, but you can learn more by taking a class at Spirit School in “Rare and Precious Bourbon” or “Scotch Whisky.” Ward III also traffics in elegance and education, in the form of bespoke cocktails. To craft your perfect drink, a mixologist might ask you to select from among several flavor profiles, such as “easy” and “spirit-forward,” or to describe significant tastes. If you’d rather, you can order a standard or signature cocktail, as in the Ward 3 (Maker’s Mark bourbon, egg white, apple puree, Angostura bitters, lime and cinnamon).

Live, Tonight

There’s live music practically every night of the week in TriBeCa. Shake Rattle and Roll Pianos modernizes the old-timey fun of dueling pianos; audience participation is most definitely required at these events, often held at Brick NYC, and the pianists demand requests. At Tiny’s, you can sit beneath antique wallpaper and a pressed tin ceiling, chatting the hours away. And then there’s M1-5, which puts dancing first, forgoing bottle service, long lines and nasty bouncers for a “hassle-free, customer-oriented environment.” Music videos play on several flat screen TVs, so you don’t have to look far if you start to run out of moves on the dance floor.

Movie Magic

What began as a way of quickly revitalizing the community in the aftermath of September 11, 2001, has grown into an important showcase for big budget and independent movies, an entertainment complex, a production company and a resource for creative professionals, all of which have helped make TriBeCa a hub of film and visual storytelling. In spring 2002, Robert De Niro, producer Jane Rosenthal and real estate investor/philanthropist Craig Hatkoff sponsored a film festival to help stimulate the creativity and economy of the neighborhood they called home. More than a decade later, the annual Tribeca Film Festival screens narratives, shorts, documentaries and features around Lower Manhattan each spring, including at the SVA Theatre. The rest of the year, the screening rooms here show other movies and function as private events space. Tribeca Film acts as the distribution arm, producing and releasing home video, video on demand, theatrical, television and other types of entertainment. Finally, the nonprofit Tribeca Film Institute funds grants and offers programs for student and established filmmakers.

Women’s Wear

Before she went independent, Israeli-born designer Nili Lotan worked for Nautica and Ralph Lauren, and this experience manifests in the clean lines and sophisticated yet simple style at the heart of her TriBeCa studio-cum-store. At Gary Graham, incense swirls against black walls, the fabrics’ stripes echo the steel girders and fire escapes of the neighborhood, and the clothes are designed for “independent, creative women who demand versatility and longevity.” Dresses, jackets, pants and other garments mix patterns and textures, as well as styles and sentiments. A Uno sells contemporary women’s clothes and jewelry by European designers, such as High, ELM and Ivan Grundahl. The Issey Miyake flagship displays accessories, jewelry and clothes for men and women by the eponymous designer in a space that’s as much art gallery as retail emporium. A fluid titanium sculpture by renowned architect Frank Gehry dominates the entrance, underscoring this brand’s focus on unique shapes and creative experimentation.

Sharp-Dressed Men

Thom Browne gives new meaning to the phrase “short pants.” His slightly-too-small suits bare men’s wrists and ankles, a look as distinctive as it is polarizing. To browse the pointy, polished shoes and bespoke garments for men at Thom Browne’s TriBeCa showroom, you might want to call ahead for an appointment. (Browne designs women’s clothes too, including the outfit worn by Michelle Obama at the 2013 inauguration.) For its first menswear-only store, J. Crew repurposed both the space and the name of a beloved TriBeCa watering hole—J.Crew Men’s Shop at the Liquor Store. The company kept the Liquor Store’s oak-and-brass bar but replaced its stools with leather chairs and taps with carefully curated clothes like pocket squares, fedoras and cashmere sweatshirts. You can drop in anytime, pull down Hemingway from its shelves and stay a while amid new and battered-to-beautiful vintage goods. A few blocks south, J.Crew’s The Ludlow Shop specializes in stylish, affordable suiting. Despite the name, Steven Alan sells products for lots of people by lots of designers. The namesake fresh shirting sits alongside streamlined clutches by Clare Vivier, chunky circular scarves by Wool and the Gang, “grandpa cardigans” for kids by ESP No. 1 and elegant dishware by Haand, among other clothes and objects for house and body.

Literary Life

“Nobody shoplifts from a store that knows 3,214 ways to murder someone,” reads a sign along the wall at the Mysterious Bookshop. Billing itself as one of the oldest mystery bookstores in the United States, it specializes in detective, crime, espionage and mystery novels. First editions, hardcovers, paperbacks, used books, rare titles and collectibles fill the floor-to-ceiling stacks. There’s also an excellent selection of Sherlockiana. Unsure what kind of work of nonfiction or novel you’re in the market for? Have a chat with the incredibly friendly staff, expert solvers of such dilemmas. Down the street, the Fountain Pen Hospital supplies cures—including cleaning, ink refills and parts replacement—for all that ails writing instruments. The staff has a combined total of 150 years of pen-related experience. Founded by a father and son in 1946, the store is still a family-run business, repairing and selling all kinds of recently made and vintage, high-end and everyday pens.

Performances

Poets House regularly hosts readings, workshops and panel discussions for poets, poetry lovers and people who don’t yet know they love words in this way. Its annual showcase strives to display every single book of poetry published in the United States that year, from complete works by Pulitzer Prize winners to one-of-a-kind hand-sewn chapbooks. The rest of the time, anyone can browse the more than 50,000 volumes that constitute its library, a light-filled space overlooking the Hudson River. Its events are designed to appeal to twenty- and thirtysomethings (although everyone is welcome to attend unless otherwise noted) and to provide intellectual, artistic entertainment, often with a Jewish focus. The Flea Theater has a slightly different mission: to produce “a joyful hell in a small space.” This Off-Off-Broadway theater puts on original music, dance, theater and interdisciplinary performances most nights of the week.

Museums and Galleries

A mecca for graphic designers, historians, style mavens and the typographically curious, the Poster Museum is run out of Philip Williams Posters and purports to be the largest gallery of vintage posters in the world. Founded in 1973, Philip Williams Posters sells ads, magazines, sheet music, film stills, maps, religious iconography, prints and posters from the 1870s to now. On-site framing is available, too. Let There Be Neon allows for another type of museum-going experience, wandering around its historical artifacts and contemporary creations, all in neon. For more than 40 years, this working studio has designed neon signs, imagery and lighting for stores, extravaganzas like the Victoria Secret Fashion Show and art galleries. Among its many initiatives, apexart presents opportunities for independent curators to organize shows, puts on events for the public, sponsors artist residencies, funds art shows outside of New York City and publishes books and catalogs. Its Unsolicited Proposal Program allows anyone anywhere to submit a proposal for an exhibition in its TriBeCa gallery, which helps bring eclecticism and diversity to the contemporary art world.